Sudanese pound
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| Sudanese pound | |||
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| جنيه سوداني (Arabic) | |||
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| ISO 4217 code | SDG |
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| Central bank | Bank of Sudan | ||
| Website | www.cbos.gov.sd | ||
| User(s) |  Sudan |
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| Inflation | 9% | ||
| Source | The World Factbook, 2006 est. | ||
| Subunit | |||
| 1/100 | qirsh (piastre) | ||
| Coins | 1, 5, 10, 20, 50 piasters, 1 pound | ||
| Banknotes | 1, 2, 5, 10, 20, 50 pounds | ||
The Sudanese pound (Arabic: جنيه سوداني junaih) is the currency of Sudan and also used in South Sudan until finalization of the introduction of the South Sudanese pound. Both Arabic and English names for the denominations appear on the country's banknotes and coins. On 24 July 2011, Sudan launched a new currency. The new Sudanese pound note has certain symbols absent and a redrawn map of the country after the secession of the south.
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[edit] History
[edit] First pound (SDP)
The first pound to circulate in Sudan was the Egyptian pound. Both Muhammad ibn Abdalla (the Mahdi) and Abdallahi ibn Muhammad (the Khalifa) issued coins which circulated alongside the Egyptian currency. The Egyptian pound circulated until its replacement by Sudan's own pound in 1956 at par. From 30 December 1969 until 21 September 1971, the Sudanese pound was at par with the pound sterling.
The pound was subdivided into 100 qirush (Arabic: قروش, singular qirsh, قرش, English: piastre). During the rule of the Mahdi and Khalifa, the qirsh was subdivided into 40 para. From 1916, the Egyptian qirsh was subdivided into 10 millim (ملّيمات, singular: ملّيم), this was adopted in 1956 in Sudan.
The pound was replaced in 1992 by the dinar (SDD) at a rate of 1 dinar = 10 pounds. While the dinar circulated in northern Sudan, in Southern Sudan, prices were still negotiated in pounds, whilst in Rumbek and Yei, the Kenyan shilling was used and accepted more within the transport sectors as well as for hotels/accommodation.
[edit] Second pound (SDG)
According to the Comprehensive Peace Agreement between the Government of the Republic of The Sudan and The Sudan People's Liberation Movement, the Central Bank of Sudan (CBOS) shall adopt a program to issue a new currency as soon as is practical during the Interim Period. The design of the new currency shall reflect the cultural diversity of Sudan. Until a new currency has been issued with the approval of the Parties on the recommendations of the CBOS, the circulating currencies in Southern Sudan shall be recognised. The second pound began introduction on 9 or 10 January 2007, and became the only legal tender as of July 1, 2007.[1][2][3] It replaced the dinar at a rate of 1 pound = 100 dinar or 1 pound (SDG) = 1000 pound (SDP).
[edit] Third pound
The third edition of the Sudanese Pound was established on 24 July 2011 following the secession of South Sudan from the Republic of Sudan. [4] [5]
For a wider history surrounding currency in the region, see The History of British Currency in the Middle East.
[edit] Coins
[edit] Issues of the Mahdi and Khalifa
In 1885, the Mahdi issued silver coins for 10 and 20 qirush and gold 100 qirush. These were followed by issues of the Khalifa in denominations of 10 para, 1, 2, 2½, 4, 5, 10 and 20 qirush. These coins were initially minted in silver in 1885. Over the following eleven years, severe debasement occurred, leading to billon, then silver-washed copper and finally copper coins being issued. The coinage ceased in 1897.
[edit] First pound
In 1956, coins were introduced in denominations of 1, 2, 5 and 10 millim, 2, 5 and 10 qirush. The millim denominations were struck in bronze, whilst the qirush denominations were in cupro-nickel. The 2, 5 and 10 millim were scallop shaped, although a round 5 millim was introduced in 1971. The 1 and 2 millim were last struck in 1969. In 1983, brass 1, 2, 5, 10 and 20 qirush were introduced, with the 5 millim struck for the last time.
In 1987, aluminium-bronze 1, 5, 10, 20, 25 and 50 qirush and 1 pound were introduced, with the 25 and 50 qirush square and octagonal in shape, respectively. In 1989, stainless-steel 25 and 50 qirush and 1 pound were issued.
[edit] Second pound
Coins in denominations of 1, 5, 10, 20 and 50 piasters were introduced alongside the circulating dinar coins. The Central Bank of Sudan states that the 5 piaster coins are yellow coloured (perhaps aluminium-bronze) and the 10 piaster is silver coloured (made of stainless steel). The 20 and 50 piaster coins are bi-metallic, with the 20 qirush yellow ringed with a silver coloured centre and the 50 qirush the opposite.
[edit] Third pound
Coins in denominations of 1, 5, 10, 20 and 50 piasters and 1 pound are to be introduced.
[edit] Banknotes
[edit] First pound
| 25 qirush of the first pound | |
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| Obverse | Reverse |
In 1956, the Sudan Currency Board introduced notes for 25 and 50 qirush, 1, 5 and 10 pounds. Note production was taken over by the Bank of Sudan in 1961. 20-pound notes were introduced in 1981, followed by 50 pounds in 1984 and 100 pounds in 1988.[6] .
[edit] Questionable new notes
In 2005, National Public Radio reported that forces in Southern Sudan were printing pound notes bearing the name "Bank of New Sudan", but there is no such bank. In addition, numbers of the banknotes had duplicate serial numbers. Their legitimacy is questionable.[7][8]
[edit] Second pound
Banknotes for 1, 2, 5, 10, 20 and 50 pounds as banknotes were issued.[2]
[edit] Third Pound
Banknotes of the third pound are similar in style to those of the second pound but with changes in colour scheme, the removal certain symbols associated with the south and a redrawn map of the country after the secession of the south. The 1 pound banknote will be replaced with a coin. [9]
| Current SDG exchange rates | |
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| From Google Finance: | AUD CAD CHF EUR GBP HKD JPY USD |
| From Yahoo! Finance: | AUD CAD CHF EUR GBP HKD JPY USD |
| From OzForex: | AUD CAD CHF EUR GBP HKD JPY USD |
| From XE.com: | AUD CAD CHF EUR GBP HKD JPY USD |
| From OANDA.com: | AUD CAD CHF EUR GBP HKD JPY USD |
[edit] See also
[edit] References
- ^ "New Sudan currency to circulate from Jan. 10". Reuters – AlertNet. 2007-01-08. http://www.alertnet.org/thenews/newsdesk/116827209529.htm. Retrieved 2007-01-10.
- ^ a b Bank of Sudan. "The new Sudanese currency". Archived from the original on 2007-01-04. http://web.archive.org/web/20070104053059/http://www.cbos.gov.sd/currency/en/index.html. Retrieved 2007-01-10. "The new currency shall start circulation on January 9th."
- ^ Sudan Vision Daily (2006-02-16). "Peace: The Presidency of the Republic: Implementation of the CPA in the Year 2005". http://www.sudanvisiondaily.com/modules.php?name=News&file=article&sid=10835. Retrieved 2006-07-19.
- ^ http://www.newsday.com/business/sudan-rolls-out-new-currency-after-separation-1.3047946
- ^ http://www.bbc.co.uk/news/world-africa-14267746
- ^ http://www.islamicbanknotes.com/
- ^ National Public Radio (2005-05-31). "Photo of some of the 200 pound notes". http://www.npr.org/news/images/2005/may/31/sudan_money400.jpg. Retrieved 2006-07-19.
- ^ National Public Radio (2005-05-31). "Peace Also Brings New Currency to Southern Sudan". http://www.npr.org/templates/story/story.php?storyId=4673945. Retrieved 2006-07-19.
- ^ http://www.albawaba.com/north-sudan-launches-new-currency-economically-troubled-waters-384581
[edit] External links
| Preceded by: Egyptian pound Reason: independence (in 1956) Ratio: at par |
Currency of Sudan 1957 – June 8, 1992 |
Succeeded by: Sudanese dinar Location: Northern Sudan Reason: inflation Ratio: 1 dinar = 10 (1st) pounds |
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| Currency of Southern Sudan 1992 – January, 2007 Note: see Second Sudanese Civil War |
Succeeded by: 2nd Sudanese pound Location: Southern Sudan Reason: currency unification (peace treaty) Ratio: 1 (2nd) pound = 1,000 (1st) pounds |
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| Preceded by: Sudanese dinar Location: Northern Sudan Reason: inflation and currency unification (peace treaty) Ratio: 1 (2nd) pound = 100 dinars |
Currency of Sudan January, 2007 – |
Succeeded by: Current |
| Preceded by: 1st Sudanese pound Location: Southern Sudan Reason: currency unification (peace treaty) Ratio: 1 (2nd) pound = 1,000 (1st) pounds |
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